Wall Street Zen upgraded shares of Babcock (NYSE:BW – Free Report) from a hold rating to a buy rating in a report released on Saturday morning.
Other equities analysts have also issued research reports about the company. Weiss Ratings raised Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Northland Securities set a $23.00 price target on shares of Babcock in a research note on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.25.
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Babcock Price Performance
Babcock (NYSE:BW – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The company had revenue of $319.69 million for the quarter, compared to analysts’ expectations of $196.95 million. On average, sell-side analysts expect that Babcock will post 0.3 earnings per share for the current year.
Insider Transactions at Babcock
In other news, Director Philip D. Moeller purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director directly owned 240,809 shares in the company, valued at $2,287,685.50. This trade represents a 2.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On Babcock
Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in Babcock by 93.0% during the second quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after buying an additional 190,814 shares during the period. Nomura Holdings Inc. raised its position in Babcock by 58.2% in the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock worth $123,000 after acquiring an additional 46,884 shares during the period. Vanguard Group Inc. boosted its stake in shares of Babcock by 54.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after acquiring an additional 1,556,692 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Babcock during the 3rd quarter valued at $74,000. Finally, Legal & General Group Plc bought a new stake in shares of Babcock during the 3rd quarter valued at $14,086,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.
Babcock Company Profile
Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.
In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.
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